HSBC is purchasing a piece of virtual real estate in The Sandbox, an online gaming arena, for an unknown fee, marking the bank’s first substantial push into the metaverse as it continues to reduce its UK branch network.
Through its patch of turf in The Sandbox, a virtual arena majority-owned by Hong Kong-based Animoca Brands, HSBC will be able to engage with sports, e-sports, and gaming aficionados.
Its foray into the virtual world comes as the British lender reduces its physical footprint, saying on Tuesday that it would close a further 69 locations in the UK as its customers migrate online.
